Why do you trade?

tokyojoe

Established member
867 287
"Not working for someone is only half as good as having a great job. But its twice as good as having a crap job."

I've had a couple of great jobs. Jobs which didn't take up all my hours, which provided me with plenty of money, future financial security also, plenty of leave time to enjoy travel and the good things in life, jobs which were mentally stimulating, jobs which I couldn't wait to get to the office for, jobs in which I met so many good people and had such a lot of fun.

If I still had a job like that, I wouldn't have bothered learning trading. Now that I trade, I will never never go back to working.
Horses for courses then ! A job is still a job, no matter how it's flowered up... you are a number, a cog, a paye bod until you are no longer needed.... a crap job isn't even worth quoting, so to say "not working for someone is twice as good as a crap job" is.......well, aload of crap..... "not working for someone" is an amazing freeing wonderful way of life..... twice as good as a crap job ! Give me a break, you've obviously quoted this a few times & have never been challenged on the ridiculousness of what you are quoting.

Ps "if you STILL had a job like that"... say no more. Good luck with your trading endeavours, you sound like you got it nailed Tom.

I am so glad I got into this game, not only did I realise what a vacuous boring vocation it really is, it made me realise how lucky I am to have blazed my own trail..... coz while the companies used & abused their paye bods.....I used the companies ! common sense really.
 

tomorton

Legendary member
7,250 969
Horses for courses then ! A job is still a job, no matter how it's flowered up... you are a number, a cog, a paye bod until you are no longer needed.... a crap job isn't even worth quoting, so to say "not working for someone is twice as good as a crap job" is.......well, aload of crap..... "not working for someone" is an amazing freeing wonderful way of life..... twice as good as a crap job ! Give me a break, you've obviously quoted this a few times & have never been challenged on the ridiculousness of what you are quoting.

Ps "if you STILL had a job like that"... say no more. Good luck with your trading endeavours, you sound like you got it nailed Tom.

I am so glad I got into this game, not only did I realise what a vacuous boring vocation it really is, it made me realise how lucky I am to have blazed my own trail..... coz while the companies used & abused their paye bods.....I used the companies ! common sense really.

My experience is not your experience. Yours is not mine.
 
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RachelFX

Junior member
21 10
What an honest and fresh post to read.
One, that at times I have been able to relate to.
As others have said, dont be so hard on yourself, maybe the break away with your family is what you need to refresh your mind and think rationally about your whole situation.

Trading for me, is about freedom to be there for my little girl, but to also have a financial security and not live on the breadline month to month.
I know the ups and downs of trading will continue even when your are more experienced. You cannot win every trade, so mastering the mindset is a key point that i work on all the time.

I see the potential in Forex, but it can consume every spare minute if you let it. Whilst you have to put the hours in and the hard work, this can also be the downfall. When we feel under pressure, especially financial pressure to make it work, it can make it harder and work against you. Having a balance in life is just as important if you want to be successful.

I hope you find this balance and the answers you need to be successful in your FX journey.
 

flakeflava

Newbie
2 0
Don't know why everyone belief in avoiding day trading, fortunately, I've made more pips in day trading than any other time.
 

awe

Active member
116 7
Ok thanks
 

Solas0077

Active member
235 11
You trade to make money. It varies but in my opinion it takes a good 10 years to reach profitability if you are devoted to this.
 

tomorton

Legendary member
7,250 969
Don't know why everyone belief in avoiding day trading, fortunately, I've made more pips in day trading than any other time.

Up until Brexit put the dampeners on so many forex opportunities, I would have agreed with you. But I've been driven to try again at London opening range break-out trading. even that is suppressed right now but it certainly shows better potential now I am generally more experienced (I was rubbish at short-term stuff a few years back).

Who knows, it might even develop into a permanent activity.

What is your preferred style and would it be suitable for a new day-trader (but old trader!) to attempt?
 

hatemypips

Well-known member
418 25
What an honest and fresh post to read.
One, that at times I have been able to relate to.
As others have said, dont be so hard on yourself, maybe the break away with your family is what you need to refresh your mind and think rationally about your whole situation.

Trading for me, is about freedom to be there for my little girl, but to also have a financial security and not live on the breadline month to month.
I know the ups and downs of trading will continue even when your are more experienced. You cannot win every trade, so mastering the mindset is a key point that i work on all the time.

I see the potential in Forex, but it can consume every spare minute if you let it. Whilst you have to put the hours in and the hard work, this can also be the downfall. When we feel under pressure, especially financial pressure to make it work, it can make it harder and work against you. Having a balance in life is just as important if you want to be successful.

I hope you find this balance and the answers you need to be successful in your FX journey.
Trading is not a freelance to earn some extra $$ to your income. You can easily lose the breadline if leverage or volatility unexpectedly bites you. Don't make a dream from it because it's a hard job and clearly bears the risk.
 

RachelFX

Junior member
21 10
Trading is not a freelance to earn some extra $$ to your income. You can easily lose the breadline if leverage or volatility unexpectedly bites you. Don't make a dream from it because it's a hard job and clearly bears the risk.
I have not claimed it is easy or without risk. But the end game is to make money whatever your motivating factors.

I have been trading successfully alongside my job so my aim to be able to do it full time is well and truly on track.
i am in no rush or under any illusion it will happen overnight. I have a clear trading plan and I am sticking to it, with very strict Risk management and RRR for every trade.

For some, with a large enough bank they can with withdraw profit as a supplement to their income should they wish. For me personally I am at a point where compounding my account is the main focus to achieve the longer term goals I have.
 
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hatemypips

Well-known member
418 25
I have not claimed it is easy or without risk. But the end game is to make money whatever your motivating factors.

I have been trading successfully alongside my job so my aim to be able to do it full time is well and truly on track.
i am in no rush or under any illusion it will happen overnight. I have a clear trading plan and I am sticking to it, with very strict Risk management and RRR for every trade.

For some, with a large enough bank they can with withdraw profit as a supplement to their income should they wish. For me personally I am at a point where compounding my account is the main focus to achieve the longer term goals I have.
Good for you. Just heard so many times that people speak about freedom, success, unlimited self-made career to eventually find themselves in a pit with huge losses. It's easy to become reckless and get carried away when the occupation allows to set basically unlimited targets.
 
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RachelFX

Junior member
21 10
Good for you. Just heard so many times that people speak about freedom, success, unlimited self-made career to eventually find themselves in a pit with huge losses. It's easy to become reckless and get carried away when the occupation allows to set basically unlimited targets.
I certainly get that, a lot of people do come in to Forex under the illusion it will be quick and easy that's for sure.

When I first started it was not in the right way, and was surrounded by so much hype and the next 'best strategy' blah blah blah Luckily was able to see through this and met the right people who talked a lot of common sense, otherwise I would probably fallen into that big pit myself!
 

CertainWay

Junior member
47 11
Rachel,
Very good answer. It's very important to stay positive and stick to your game plan regardless of what anyone says particularly here in a forum. But we also have to guard against excessive optimism that could lead to what Larry Williams says 'king-kong' feeling that comes with a winning trade or a series of wins.
More importantly always be alert to people who could install negative beliefs in you based on their own experiences. Every person perceives their experience in their own way and expresses it here or in real life the way THEY SEE IT OR EXPERIENCE IT and perceptions aren't always reflecting reality. One's persons perception could be anoether persons reality.
Thanks
CT

I have not claimed it is easy or without risk. But the end game is to make money whatever your motivating factors.

I have been trading successfully alongside my job so my aim to be able to do it full time is well and truly on track.
i am in no rush or under any illusion it will happen overnight. I have a clear trading plan and I am sticking to it, with very strict Risk management and RRR for every trade.

For some, with a large enough bank they can with withdraw profit as a supplement to their income should they wish. For me personally I am at a point where compounding my account is the main focus to achieve the longer term goals I have.
 
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RachelFX

Junior member
21 10
Rachel,
Very good answer. It's very important to stay positive and stick to your game plan regardless of what anyone says particularly here in a forum. But we also have to guard against excessive optimism that could lead to what Larry Williams says 'king-kong' feeling that comes with a winning trade or a series of wins.
More importantly always be alert to people who could install negative beliefs in you based on their own experiences. Every person perceives their experience in their own way and expresses it here or in real life the way THEY SEE IT OR EXPERIENCE IT and perceptions aren't always reflecting reality. One's persons perception could be anoether persons reality.
Thanks
CT
Thank you CertainWay, and you make a very valid point that everyone should remember when listening to advice and opinions.

Mindset and focus are key attributes to acquire and maintain to be successful.
 
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CertainWay

Junior member
47 11
Rachel
If there's one thing I have learnt related to trading is to have confidence and unshakeable belief in my convictions. After I used to be swayed away by opinions of 'more experienced' traders, I realized that each one is different and we have to have our own mindset, beliefs, methods, patterns whatever, those that suit our personality. Then stick with it with statistical analysis to see if they are working out or not. Usually like they say the proof is in the pudding and a well kept journal along with statistical log of actual trades versus those that have been back tested will tell us more about us than anyone else on this fourms. Once you have something that works for you then that becomes your goldmine.
I did study a few books on market psychology and self disciplines. AlsoI studied a few books on peak performance and adapted beliefs of successful athletes and traders. AT the end of the day just like sports or success in any other venture, this is a mental game where one valid, back tested pattern is enough to make a living. It's 80% psychological and about 20% mechanical. Let's keep working on our mindsets and we can keep on reaping the reward.
CT
 
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